USA Mega

Maine Powerball Jackpot Annuity Payout Schedule for Jul 11, 2020

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The tax information provided here is based on 2021 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $78,300,000 for a ticket purchased in Maine, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Maine

Drawing Date:Sat, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 7.15%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$84,265$694,135
2$1,237,454$421,930$88,478$727,046
3$1,299,326$444,823$92,902$761,602
4$1,364,293$468,861$97,547$797,885
5$1,432,507$494,100$102,424$835,983
6$1,504,133$520,601$107,545$875,986
7$1,579,339$548,428$112,923$917,989
8$1,658,306$577,646$118,569$962,092
9$1,741,222$608,324$124,497$1,008,400
10$1,828,283$640,537$130,722$1,057,024
11$1,919,697$674,360$137,258$1,108,078
12$2,015,682$709,874$144,121$1,161,686
13$2,116,466$747,165$151,327$1,217,974
14$2,222,289$786,319$158,894$1,277,076
15$2,333,404$827,432$166,838$1,339,134
16$2,450,074$870,600$175,180$1,404,294
17$2,572,577$915,926$183,939$1,472,712
18$2,701,206$963,519$193,136$1,544,551
19$2,836,267$1,013,491$202,793$1,619,983
20$2,978,080$1,065,962$212,933$1,699,185
21$3,126,984$1,121,056$223,579$1,782,348
22$3,283,333$1,178,906$234,758$1,869,669
23$3,447,500$1,239,647$246,496$1,961,356
24$3,619,875$1,303,426$258,821$2,057,628
25$3,800,869$1,370,394$271,762$2,158,713
26$3,990,912$1,440,710$285,350$2,264,852
27$4,190,458$1,514,542$299,618$2,376,298
28$4,399,980$1,592,065$314,599$2,493,317
29$4,619,979$1,673,465$330,329$2,616,186
30$4,850,978$1,758,934$346,845$2,745,199
Total$78,300,000$27,893,170$5,598,448$44,808,381

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.